So Tesla is coming? Now what?! According to reporter Anjeanette Damon, “Reno can handle a spike in growth fueled by the construction of Tesla’s $5 billion battery gigafactory… But it will come with a hefty price tag and no one is sure who will foot the bill.” Our region is expected to have 6,200 new residents by 2018 with the new gigafactory and has approved 64,000 new housing units (not yet built) to cover the expected increase.
The big expense the region faces will be with sewage treatment because the Truckee Meadows Water Reclamation Facility “can’t treat the incoming water fast enough to meet environmental regulations.” “Either the region builds a $35 million pipeline to send the effluent water to Storey County for industrial use, or it installs new nitrogen treatment technology at a cost of $40 million.” There are risks to either option, Damon says “regional officials may also seek state or federal funding to build the effluent water pipeline, hoping to sell it as infrastructure needed for economic development.” Bottom line, the planning is still in the works and the next decade is sure to be an exciting one for the Reno/Tahoe area.
Keep your eyes peeled for more updates on the Reno/Tahoe real estate market as Tesla, and other big businesses move to our region. Or follow the link to ask one of our Dickson Realty professionals!
Source: http://www.rgj.com/story/news/2014/12/08/reno-ready-tesla-growth-yes-price/20113525/ by Anjeanette Damon.
